(CNN) –– Stocks closed higher on Monday, taking advantage of last week’s big rally, and the Dow Jones index surpassed the 38,000 mark for the first time in history.
The Dow Jones rose 138 points, or 0.4%, to end the day at 38,001.81. For its part, the S&P 500 gained 0.2% and the Nasdaq Composite 0.3%.
The S&P 500 also closed at historic highs, reaching 4,850.43.
Year-end price targets for the Dow range between 34,000 and 45,000, according to Capex.
Last Friday, the S&P 500 entered bullish territory, recovering more than 20% from the lows and reaching a new record.
Elsewhere, Macy’s shares rose 3.6% after the company over the weekend rejected a $5.8 billion offer from Arkhouse Management and its partner Brigade Capital Management to take the company private.
Shares of Spirit Airlines rose 19.5% after the company and JetBlue appealed a ruling blocking their planned merger on Friday. JetBlue shares gained 0.2%.
Archer-Daniels-Midland shares fell 24.2% after the company suspended its CEO and cut its earnings forecast after launching an investigation into its accounting practices.
2024-01-22 21:36:00
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